Knowledge that Transforms

A PERSPICACIOUS cRTInC remarked of this essay in an early version: It tells us more about what radical economists do than what radical is. While I hope this is less true of the present version, Professor Jacob Viner was right in arguing that economics is what economists do, especially when the in question is inchoate, unstructured, and still developing, as is decidedly the case witlh the American radical variety.

The philosophy adopted and the literature coverage demonstrated owe mnuch to the assistance of: Thomas W. Calmus, Graduate School of Management and Business, University of Oregon; Karl Haiiser, Seminar fur Volkswirtschaftslehre, Universitdt Frankfurt/Al; J. C. L. Hulqkamp, International Bureau of Fiscal Documentation; and T. A. Kennedy, National Economic Development Office of the U.K. Errors of fact and interpretation are, of course, entirely of my doing.

Professor of Economies, Columbia University, and Senior Research Staff, National Bureau of Economic Research. This paper is based, in large part, upon ongoing research in human capital at the National Bureau. This research is financed by grants from the Carnegie Corporation and from the Economic Development Administration of the United States Department of Commerce. I am grateful to Gary Becker, Barry Chiswick, and Victor Fuchs for helpful comments, and to Masanori Hashimoto and Sara Paroush for most competent assistance.